A lot of people dip their toes into trading and quickly find out money is not merely made by the click of a couple keys on s a keyboard. Those clicks are merely the result of intense study and the processing of data in the mind that has been trained and prepared for winning. Not only that, but to be successful, one must look at their trading as a business. How so? There must be a profit from every risk of capital made. You should have the knowledge that if you make a certain investment that there will very likely be a reward attached to that risk.
For instance, with the $eurusd short trade I currently have on. May traders have commented to me that they can’t believe how long I am holding my position for. I say, why are you so
surprised? I have known with great certainty that it would take roughly 3 months for price to play out fully and for the positions to reach max gain. So with this knowledge why would I ever consider exiting my position earlier? Imagine getting a business contract that ends in 3 months time and you get paid each month for your work, would you quit after 2 months and give up the last month profit that you were due? Obviously in that case you most likely would not. Thing is most people see the markets are something that can not be predicated when it fact it can easily be predicated if you know what concepts/principles to apply to your analysis.
Once your analysis has reached a certain level and you watch the markets play out in a predictable manner it becomes a very high probability that things will play out as you
expect. The only thing you have to consider is your belief in yourself that you are capable of understanding market price action the way it’s required. Do you have the confidence in your abilities? Once you achieve that level of confidence, the market becomes your best friend and nothing can stop you progressing to become a master at trading.
Truth is, it is no longer difficult for me to hold a position for as long as I need to be because I am confident in my process and I am not afraid to give back profits or even put money at risk, in fact I associate risking money with a high probability of seeing a nice profit on that money. I like anyone else don’t like to lose money and this is why I have developed I strong process that never lets me down whether I make or lose money. Remember losing money as part of the deal. Not every time you place a trade will it play out in your favour but the goal is that when you lose it’s for a well-defined reason and it’s only a very small portion of your overall portfolio.